Brinker Capital Investments LLC bought a new stake in Griffon Co. (NYSE:GFF – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,190 shares of the conglomerate’s stock, valued at approximately $222,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Voss Capital LLC lifted its stake in Griffon by 38.1% in the third quarter. Voss Capital LLC now owns 2,526,345 shares of the conglomerate’s stock worth $74,577,000 after acquiring an additional 696,345 shares during the period. Vanguard Group Inc. raised its holdings in Griffon by 7.4% in the first quarter. Vanguard Group Inc. now owns 5,656,744 shares of the conglomerate’s stock worth $113,304,000 after purchasing an additional 388,996 shares in the last quarter. BlackRock Inc. raised its holdings in Griffon by 2.4% in the first quarter. BlackRock Inc. now owns 7,674,318 shares of the conglomerate’s stock worth $153,717,000 after purchasing an additional 181,416 shares in the last quarter. 13D Management LLC bought a new position in Griffon in the third quarter worth about $4,919,000. Finally, Boothbay Fund Management LLC raised its holdings in Griffon by 185.2% in the third quarter. Boothbay Fund Management LLC now owns 223,848 shares of the conglomerate’s stock worth $6,608,000 after purchasing an additional 145,373 shares in the last quarter. 74.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on GFF. StockNews.com upgraded shares of Griffon from a “hold” rating to a “buy” rating in a report on Tuesday, May 2nd. Stephens cut their price objective on shares of Griffon from $52.00 to $37.00 in a report on Monday. Finally, TheStreet downgraded shares of Griffon from a “b-” rating to a “c+” rating in a report on Wednesday, March 15th.
Griffon Stock Down 0.4 %
Griffon (NYSE:GFF – Get Rating) last announced its earnings results on Wednesday, May 3rd. The conglomerate reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.53. The company had revenue of $710.98 million during the quarter, compared to analysts’ expectations of $723.23 million. Griffon had a positive return on equity of 40.44% and a negative net margin of 10.22%. Griffon’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. Sell-side analysts expect that Griffon Co. will post 3.77 EPS for the current year.
Griffon Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, May 24th. Griffon’s payout ratio is -7.03%.
About Griffon
Griffon Corp. is a diversified management and holding company, which conducts business through its subsidiaries. It provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities. It operates through the Consumer and Professional Products and Home and Building Products segments.
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